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Risk-based strategic planning
OVERVIEW

Prepare Strategic Plan for the audits of the Internal Audit Unit for a random period of time using a risk-based approach.

stategic planning

With AuditDesktop you can define your audit universe and update it over time with no impact on the plans already endorsed. You can set your risk-based approach by entering risk factors and assigning weights, assessment criteria and prioritization methods. An unlimited number of risk assessments can be made.

In AuditDesktop you will find a ready risk-based approach for risk assessment and prioritization. The main focus in defining the risk factors in the risk model used is placed on the adequacy of the financial management and control systems, the significance of the entity audited and the willingness of the management to take actions on previous auditors' recommendations.

AuditDesktop helps you achieve a more effective audit scope, and it shows human resources available at any time during your planning stage.

AUDIT UNIVERSE

AuditDesktop allows you to describe your audit universe according to your understanding of the organization by arranging the units to be audited by hierarchy or linearly. In addition, you can arrange the units into separate groups to achieve a more clear-cut look. In addition to audits you can also add an unlimited number of other assurance engagements, such as: units under construction, audits required by the management or various other types of audit work. The universe supports versions and can be changed during the auditing process with no effect on the existing approved plans.

RISK ASSESSMENT

AuditDesktop allows you to conduct risk assessment using the built-in risk approach with developed and assessed risk areas, factors and methodology for assessing and prioritizing audits; or customized approach which differs from the integrated one. All parameters set associated with the process of risk assessment and audit prioritization are modifiable. For every risk factor you will find: a target, definition, criteria and assessment methodology. AuditDesktop supports four levels of risk: Low, Insignificant, Significant and High.

RESOURCES

AuditDesktop provides you with information about the resources available for the audit throughout the entire planning process. The product supports various work calendars and positions for each employee and an option to determine the time during which the employee can be tasked with an audit – effective fund for audit work time (EFAWT). You receive the information in percentages, man hours or days, as well as number of employees constituting a shortage or excess of resources.

Strategic planning
Strategic planning
Annual planning
Annual planning
Risk assessment
Risk assessment
Risk matrix
Risk matrix
Materiality
Materiality
Sampling
Sampling
Audit methods development
Audit methods development
Conducting and documenting an audit
Conducting and documenting an audit
MS Office integration
MS Office integration
Trial balance
Trial balance
Trial balances consolidation
Trial balances consolidation
Financial statements analysis
Financial statements analysis
Errors
Errors
Timesheets
Timesheets
Reports
Reports
Audit file export
Audit file export
Audit file export - checklist
Audit file export - checklist